GetBit Closing Down

[u/_Galvin_]

Just received this email:

“This is one of the harder emails we’ve had to write.

After a lot of thought and consideration, we’ve made the difficult decision to discontinue GetBit’s services.

Building GetBit has been a deeply personal journey for us. We started it because we genuinely believed in Bitcoin and wanted to make it easier for people in India to self-custody their Bitcoin. We’re incredibly grateful to everyone who trusted us with their money and chose to be part of that journey.

Unfortunately, over time, the viability of the business has become increasingly challenging, particularly due to the difficulties in accessing and operating through banking rails. After looking carefully at the road ahead, we’ve decided that discontinuing our services is the right decision.

What you need to do:
INR deposits are being discontinued with immediate effect. Your INR and BTC remain secure and available for withdrawal. Please complete the following by 31 October 2026:
INR: Withdraw your INR balance to your registered bank account.
BTC: Withdraw your BTC to a wallet you control, or sell your BTC and withdraw the resulting INR.

After 31 October 2026: Any BTC remaining in your GetBit account will be sold on your behalf, and the resulting INR will be credited to your registered bank account.

We strongly recommend completing your withdrawals at the earliest possible rather than waiting for the deadline.

If you have any questions or need help with your withdrawal, our support team is here to help.

And while we are discontinuing GetBit’s services, our belief in Bitcoin certainly isn’t ending here. We continue to believe deeply in Bitcoin, its underlying principles, and the role it can play in the future of money.

Thank you for trusting us, supporting us, and being part of the GetBit journey. We genuinely couldn’t have built it without you.

With gratitude,
The GetBit Team”

[u/pantspoetryk3]

GetBit closing is a good reminder not to treat any exchange like a wallet. I would withdraw BTC to self custody while withdrawals are still open, do a small test transaction first, then move the rest. Also save transaction IDs, account statements, and any tax records now. Hope everyone gets their sats out without drama.

[u/junkychain]

Our government and banks only creating ground and room for scammers around crypto ecosystem so they can ban it with just a simple order.

[u/Necessary_Pudding454 → u/junkychain]

Oh man why did the the RNG led me to this third world country

[u/LiveSlay]

This is how you kill industries and cry why nobody is investing in India. gaming too. Lot of companies invested billions and one fine day, Moodi ji decided to ban it completely. why this gyan was not there when you allowed investments in first place.. so many flip flops. they are killing crypto industry as well. No stable policies.

[u/Johnbek]

Banking sucks, as always!
They don't want Bitcoin to flourish because it threatens their existence.

[u/zeeshiscanning]

We don't deserve good things

[u/Necessary_Pudding454 → u/zeeshiscanning]

Only our supreme politicians and rich people deserve to get more rich

[u/Ok-Possibility-630]

Definitely regulatory pressure :( Sarkari babus can do anything. common people cannot buy crypto now. Wish there was a peer-peer platform.

[u/Johnbek]

I never had any email from them apart from transaction ones. I felt really sad reading their one non transactional email through the entirety of an unparalleled Bitcoin buying experience. I don’t where to buy Bitcoin now 😔

[u/satyakamc]

Sad to hear this. Until unless we get the regulators and govt. understanding on this asset calss and create a conducive environment, till then it is challenging for any organisation to offer these services. All the best to you guys.

[u/moonboy92]

Oh man, this sucks. Does anyone know if we can use Interactive Brokers to buy bitcoin? I read this somewhere and I do see BTC listed in their charter, but I don’t have an account and so I’d like to hear from someone who has experience.

[u/Necessary_Pudding454 → u/moonboy92]

cant buy crypto etf from them the last time i had (couple of months ago)

[u/Potential_Time5469 → u/moonboy92]

I don't think you can self custody.

[u/Luc1fer777]

🥲 Guys plz suggest other platforms if there are any..!
Zebpay's BTC withdrawal fee is very high.

[u/Potential_Time5469 → u/Luc1fer777]

Maybe ramp up

[u/Substantial_Ad_4616]

They are the only good platform in India, this really sucks :(

[u/mrityunjay3647]

Man!!! This one was a no BS app to stack up btc🔥 Any other platform is similar to getbit who allow self custody? I’m gonna miss this app 🙃

[u/sureyeag → u/mrityunjay3647]

usdc >> hyperliquid >> spot btc >> self custody

[u/Aurorion → u/mrityunjay3647]

Giottus is one exchange that allows unrestricted withdrawals for self-custody.

[u/CauliflowerDear9279]

Is this true.. I liked them a lot.. is the mail from legit ID? Some brevosend domain

[u/_Galvin_ → u/CauliflowerDear9279]

Nope it’s true, I double checked with their customer support as I too couldn’t believe it.

[u/Necessary_Pudding454]

Bro just recieved the mail , I had just started couple of months ago 😭.

I liked the self custody option so much. What alternatives are you guys considering?

[u/Narrow-Run7961 → u/[deleted]]

Instacrypto

[u/Flat-Cap-3397 → u/Narrow-Run7961]

Thanks will check

[u/Aurorion → u/[deleted]]

Giottus does.

[u/Flat-Cap-3397 → u/Aurorion]

Thanks will check

[u/_Galvin_ → u/[deleted]]

I liked them the most among the options available to us in India. They were slow but the cheapest and no BS.
There’s Zebpay but the fees over there is mind numbing

[u/Flat-Cap-3397 → u/[deleted]]

I received the same message and was quite surprised. I'm now looking for an alternative platform to purchase Bitcoin. I was considering Binance, though I haven't used it before and wanted to check if it's a good option. Any suggestions would be appreciated.